TaxiMonger, Malaysian Echelon startup, will head to Dubai for SeedStartup accelerator
TaxiMonger, an exhibiting startup at Echelon 2012, is one of the four startups accepted into SeedStartup, a TechStar affiliated accelerator programBy Jacky Yap 09 Jun, 2012
We just received exciting news from the TaxiMonger team, who pitched at the Indonesia Satellite in April, that they are the only Southeast Asia startup accepted into the SeedStartup Accelerator program based in Dubai. A total of four startups were accepted into the program, out of which two are from the United States and another one from the UK, and of course, TaxiMonger.
SeedStartup is a Y-Combinator style accelerator, focuses on digital media startups, selecting 5 to 10 companies to participate in its three-month program. Those selected receive US$20,000 to US$25,000 in exchange for 10 percent equity, access to a global list of mentors, as well as networking, and introductions to investors.
Commencing on 14 June, SeedStartup is an affiliate of TechStars. Nizran Noordin, co-founder of TaxiMonger and SecQ.me shared, “we’re thrilled by the validation and it is a motivation for us to attempt to scale this outside of our home-country Malaysia to regionally and eventually, the Middle-East too. Not a bad achievement for a four-month old startup which launched its public trial for taxi booking on 6 April 2012 in Kuala Lumpur, Malaysia.”
When asked about how it all started, Nizran recalled that he met SeedStartup’s Managing Partnenr, Rony El-Nashar in Abu Dhabi when he represented SecQ.me for the GIST Business Plan competition. “After I came back, we saw that SecQ.me was already beyond seed stage and personally thought that this was a good opportunity to position TaxiMonger in the international markets. After all, our value proposition has always been TaxiMonger as your virtual taxi call-centre that runs on the cloud, whether you are a taxi company or independent taxi driver. The application was done online and pretty straightforward. But the group Skype interview was quite tough. Interviewers really wanted to know whether we understood our business and its prospects. So, there was a lot of slice and dice,” said Nizran.
For e27, it’s exciting to see how Echelon has been helping startups, like TaxiMonger, in various ways. According to Nizran, ” the Satellite event for Echelon 2012 provided me the confidence to pitch in front of an international audience. It also gave me the perspective that to scale beyond our home-ground was not that easy. Looking at it, it helped to make us decide to go for the accelerator program.”
TaxiMonger is an alumni of StartupMalaysia.org and drew a lot of inspiration from it. They will be exhibiting at Echelon 2012 Startup Marketplace. The team pitched their product at the Indonesia Satellite in April. Check out our recent coverage on TaxiMonger here.